REAL TipS: BUYING

After the inspection

You found the house you’ve been looking for! You’re serious about buying this house; in fact, you’ve already put down earnest money, the option fee, and even gotten an inspection.

The inspection is such an important part of the buying process. A qualified inspector will evaluate the property’s condition honestly and neutrally. The assessment may come back with all sorts of comments, especially in older homes. Don’t be intimidated—all homes, even brand new ones, have defects, and finding imperfections is what inspectors do!

Your inspector should offer to explain any component of the report to you. Pay attention to anything that may have an associated health risk, like electrical faults, some types of mold, or a flawed hot-water heater.

You’ll also want to closely evaluate items that may be immediate big ticket repair items—like a leaky or damaged roof, foundation issue, or a major plumbing problem.

Have your Texas REALTOR® provide a written copy of the inspection report to the seller. Get estimates to fix the reported problems and ask the seller to make the repairs or adjust the price accordingly.

Sometimes the seller will agree to make repairs, sometimes he’ll meet you halfway, sometimes he’ll stand firm. In any case, once he responds, you have to decide whether the price of the home plus the cost of repairs is a good value.

Be sure to confer with your REALTOR® and ask for advice—she has the knowledge and experience in contract negotiations to get you the best deal possible.

Texas Association of Realtors®